{"id":23209,"date":"2013-09-30T22:05:50","date_gmt":"2013-10-01T02:05:50","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=23209"},"modified":"2013-09-30T22:05:50","modified_gmt":"2013-10-01T02:05:50","slug":"september-30-2013","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=23209","title":{"rendered":"September 30, 2013"},"content":{"rendered":"

The US government is heading towards shut-down<\/a>:<\/p>\n

The U.S. government stands poised for its first partial shutdown in 17 years at midnight tonight, after a weekend with no signs of negotiations or compromise from the Congress or the White House.<\/p>\n

House Republicans, led by Speaker John Boehner, want to delay President Barack Obama\u2019s Affordable Care Act for a year and make other changes to the law. Democrats, led by Obama, say that won\u2019t happen. Republicans and Democrats say they don\u2019t want to close the government, though neither side is budging from their positions.
…<\/b>
A brief government closure won\u2019t lead to any significant change of the Treasury Department\u2019s forecast for when the U.S. will breach the debt limit, a Treasury spokeswoman said yesterday in an e-mail. The Treasury has said measures to avoid breaching the debt ceiling will be exhausted on Oct. 17.<\/p><\/blockquote>\n

It was a very, very slightly negative day for the Canadian preferred share market, with PerpetualDiscounts and DeemedRetractibles off 1bp and FixedResets off 2bp. Considering the modesty of the overall moves the Performance Highlights table is surprisingly lengthy, with BAM issues notable on the winning side. Volume was above average.<\/p>\n

And that’s it for another month!<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n
HIMIPref™ Preferred Indices
These values reflect the December 2008 revision of the HIMIPref™ Indices<\/strong>
Values are provisional and are finalized monthly<\/td>\n<\/tr>\n
Index<\/td>\nMean
Current
Yield
(at bid)<\/td>\n		Median
YTW<\/td>\n		Median
Average
Trading
Value<\/td>\n		Median
Mod Dur
(YTW)<\/td>\n		Issues<\/td>\nDay’s Perf.<\/td>\nIndex Value<\/td>\n<\/tr>\n
Ratchet<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.1628 %<\/td>\n2,527.6<\/td>\n<\/tr>\n
FixedFloater<\/td>\n4.32 %<\/td>\n3.64 %<\/td>\n30,916<\/td>\n18.02<\/td>\n1<\/td>\n-1.0356 %<\/td>\n3,841.9<\/td>\n<\/tr>\n
Floater<\/td>\n2.67 %<\/td>\n2.84 %<\/td>\n66,159<\/td>\n20.12<\/td>\n5<\/td>\n-0.1628 %<\/td>\n2,729.1<\/td>\n<\/tr>\n
OpRet<\/td>\n4.63 %<\/td>\n3.09 %<\/td>\n64,489<\/td>\n0.49<\/td>\n3<\/td>\n-0.2953 %<\/td>\n2,633.4<\/td>\n<\/tr>\n
SplitShare<\/td>\n4.77 %<\/td>\n4.96 %<\/td>\n60,488<\/td>\n4.04<\/td>\n6<\/td>\n-0.1958 %<\/td>\n2,941.7<\/td>\n<\/tr>\n
Interest-Bearing<\/td>\n0.00 %<\/td>\n0.00 %<\/td>\n0<\/td>\n0.00<\/td>\n0<\/td>\n-0.2953 %<\/td>\n2,408.0<\/td>\n<\/tr>\n
Perpetual-Premium<\/td>\n5.88 %<\/td>\n5.56 %<\/td>\n124,474<\/td>\n4.52<\/td>\n2<\/td>\n0.0989 %<\/td>\n2,273.1<\/td>\n<\/tr>\n
Perpetual-Discount<\/td>\n5.56 %<\/td>\n5.55 %<\/td>\n145,009<\/td>\n14.32<\/td>\n36<\/td>\n-0.0095 %<\/td>\n2,352.9<\/td>\n<\/tr>\n
FixedReset<\/td>\n4.93 %<\/td>\n3.65 %<\/td>\n240,346<\/td>\n3.63<\/td>\n85<\/td>\n-0.0190 %<\/td>\n2,457.3<\/td>\n<\/tr>\n
Deemed-Retractible<\/td>\n5.12 %<\/td>\n4.47 %<\/td>\n199,971<\/td>\n6.78<\/td>\n43<\/td>\n-0.0124 %<\/td>\n2,380.4<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Performance Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nChange<\/td>\nNotes<\/td>\n<\/tr>\n
PWF.PR.A<\/td>\nFloater<\/td>\n-2.39 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-30
\nMaturity Price : 22.22
\nEvaluated at bid price : 22.50
\nBid-YTW : 2.32 %<\/td>\n<\/tr>\n
CIU.PR.A<\/td>\nPerpetual-Discount<\/td>\n-1.89 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-30
\nMaturity Price : 20.80
\nEvaluated at bid price : 20.80
\nBid-YTW : 5.60 %<\/td>\n<\/tr>\n
BNS.PR.Y<\/td>\nFixedReset<\/td>\n-1.26 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.45
\nBid-YTW : 3.92 %<\/td>\n<\/tr>\n
FTS.PR.J<\/td>\nPerpetual-Discount<\/td>\n-1.23 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-30
\nMaturity Price : 22.80
\nEvaluated at bid price : 23.21
\nBid-YTW : 5.15 %<\/td>\n<\/tr>\n
SLF.PR.E<\/td>\nDeemed-Retractible<\/td>\n-1.05 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.62
\nBid-YTW : 6.21 %<\/td>\n<\/tr>\n
BAM.PR.G<\/td>\nFixedFloater<\/td>\n-1.04 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-30
\nMaturity Price : 22.41
\nEvaluated at bid price : 21.98
\nBid-YTW : 3.64 %<\/td>\n<\/tr>\n
BAM.PR.J<\/td>\nOpRet<\/td>\n-1.02 %<\/td>\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-03-31
\nMaturity Price : 26.00
\nEvaluated at bid price : 26.26
\nBid-YTW : 3.22 %<\/td>\n<\/tr>\n
BAM.PF.C<\/td>\nPerpetual-Discount<\/td>\n1.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-30
\nMaturity Price : 20.36
\nEvaluated at bid price : 20.36
\nBid-YTW : 6.00 %<\/td>\n<\/tr>\n
BAM.PR.B<\/td>\nFloater<\/td>\n1.15 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-30
\nMaturity Price : 18.46
\nEvaluated at bid price : 18.46
\nBid-YTW : 2.84 %<\/td>\n<\/tr>\n
IAG.PR.A<\/td>\nDeemed-Retractible<\/td>\n1.78 %<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.81
\nBid-YTW : 5.69 %<\/td>\n<\/tr>\n
FTS.PR.H<\/td>\nFixedReset<\/td>\n2.14 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-30
\nMaturity Price : 21.50
\nEvaluated at bid price : 21.50
\nBid-YTW : 3.99 %<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n2.30 %<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-30
\nMaturity Price : 21.31
\nEvaluated at bid price : 21.31
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n\n
Volume Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nShares
Traded<\/td>\n		Notes<\/td>\n<\/tr>\n
MFC.PR.C<\/td>\nDeemed-Retractible<\/td>\n72,005<\/td>\nRBC crossed 57,100 at 21.35.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 21.26
\nBid-YTW : 6.43 %<\/td>\n<\/tr>\n
BNS.PR.Q<\/td>\nFixedReset<\/td>\n63,445<\/td>\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 24.79
\nBid-YTW : 3.70 %<\/td>\n<\/tr>\n
GWO.PR.R<\/td>\nDeemed-Retractible<\/td>\n51,938<\/td>\nDesjardins crossed 30,000 at 22.50.
\nYTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.50
\nBid-YTW : 6.07 %<\/td>\n<\/tr>\n
BAM.PF.D<\/td>\nPerpetual-Discount<\/td>\n37,430<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-30
\nMaturity Price : 21.31
\nEvaluated at bid price : 21.31
\nBid-YTW : 5.79 %<\/td>\n<\/tr>\n
ENB.PR.Y<\/td>\nFixedReset<\/td>\n35,105<\/td>\nYTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-30
\nMaturity Price : 22.71
\nEvaluated at bid price : 23.95
\nBid-YTW : 4.32 %<\/td>\n<\/tr>\n
TD.PR.A<\/td>\nFixedReset<\/td>\n31,190<\/td>\nNesbitt crossed 15,000 at 25.40.
\nYTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2014-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.35
\nBid-YTW : 3.29 %<\/td>\n<\/tr>\n
There were 43 other index-included issues trading in excess of 10,000 shares.<\/td>\n<\/tr>\n<\/table>\n\n\n\n\n\n\n\n\n\n
Wide Spread Highlights<\/strong><\/td>\n<\/tr>\n
Issue<\/td>\nIndex<\/td>\nQuote Data and Yield Notes<\/td>\n<\/tr>\n
MFC.PR.F<\/td>\nFixedReset<\/td>\nQuote: 22.76 – 23.90
\nSpot Rate : 1.1400
\nAverage : 0.7851<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2025-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 22.76
\nBid-YTW : 4.59 %<\/td>\n<\/tr>\n

CGI.PR.D<\/td>\nSplitShare<\/td>\nQuote: 23.60 – 24.23
\nSpot Rate : 0.6300
\nAverage : 0.4009<\/p>\n

YTW SCENARIO
\nMaturity Type : Soft Maturity
\nMaturity Date\t: 2023-06-14
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.60
\nBid-YTW : 4.51 %<\/td>\n<\/tr>\n

CIU.PR.A<\/td>\nPerpetual-Discount<\/td>\nQuote: 20.80 – 21.50
\nSpot Rate : 0.7000
\nAverage : 0.5171<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-30
\nMaturity Price : 20.80
\nEvaluated at bid price : 20.80
\nBid-YTW : 5.60 %<\/td>\n<\/tr>\n

FTS.PR.J<\/td>\nPerpetual-Discount<\/td>\nQuote: 23.21 – 23.74
\nSpot Rate : 0.5300
\nAverage : 0.3879<\/p>\n

YTW SCENARIO
\nMaturity Type : Limit Maturity
\nMaturity Date\t: 2043-09-30
\nMaturity Price : 22.80
\nEvaluated at bid price : 23.21
\nBid-YTW : 5.15 %<\/td>\n<\/tr>\n

BNS.PR.Z<\/td>\nFixedReset<\/td>\nQuote: 23.58 – 23.91
\nSpot Rate : 0.3300
\nAverage : 0.1981<\/p>\n

YTW SCENARIO
\nMaturity Type : Hard Maturity
\nMaturity Date\t: 2022-01-31
\nMaturity Price : 25.00
\nEvaluated at bid price : 23.58
\nBid-YTW : 4.15 %<\/td>\n<\/tr>\n

BNS.PR.O<\/td>\nDeemed-Retractible<\/td>\nQuote: 25.70 – 25.99
\nSpot Rate : 0.2900
\nAverage : 0.1758<\/p>\n

YTW SCENARIO
\nMaturity Type : Call
\nMaturity Date\t: 2017-04-26
\nMaturity Price : 25.00
\nEvaluated at bid price : 25.70
\nBid-YTW : 4.62 %<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The US government is heading towards shut-down: The U.S. government stands poised for its first partial shutdown in 17 years at midnight tonight, after a weekend with no signs of negotiations or compromise from the …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-23209","post","type-post","status-publish","format-standard","hentry","category-market-action"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23209"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/23209\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}